jrw wrote:
can someone condense the recent spread arguments down to a sentence or paragraph?
Jay, here are some good points from Robert:
For some strange reason all gold currencies penalize users by keeping entry costs high and exit costs low.
And this:
Let's reverse the system. Sell at spot plus a fixed processing fee of, say
$5.00 (plus whatever risk premium for credit card sales), while charging
4-6% to buy gold back.
It will entice new entrants and will increase purchase volumes (if you
charge a fixed processing fee of $5, the number of people who will buy
$500 worth at a time will increase drastically). And by making your money
from the merchants who need to outexchange, you have a regular supply of
revenue, independent of the spot price.
And this:
IF YOU SELL GOLD AT SPOT, I'M READY TO ACCEPT 5% DEDUCTIONS FOR
OUTEXCHANGES, SIMPLY BECAUSE I PAY 5% TO CREDIT CARD COMPANIES ANYWAY AND
HAVE THE ADDED RISK OF CHARGEBACKS !!!
-- Patrick
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